With World Bank’s objective to reduce emissions from deforestation and forest degradation commonly known as REDD+, Ghana has become the second country in Africa after Mozambique to receive payments from the World Bank trust fund.
The World Bank’s Forest Carbon Partnership Facility (FCPF) has paid an amount of $4,862,280 to Ghana for reducing 972,456 tons of carbon emissions for the first monitoring period under the program (June to December 2019)
“This payment is the first of four under the country’s Emission Reductions Payment Agreement (ERPA) with the World Bank to demonstrate potential for leveraging results-based payments for carbon credits.
“Subject to showing results from actions taken to reduce deforestation, Ghana is eligible to receive up to $50 million for 10 million tons of CO2 emissions reduced by the end of 2024.”
Pierre Laporte, World Bank Country Director for Ghana, Liberia, and Sierra Leone
According to Mr. Pierre Laporte, these actions are within a six-million-hectare stretch of the West Africa Guinean Forest, where biodiversity and forests are under pressure from cocoa farming and unsustainable harvesting, along with small-scale mining. “Ghana is one of 15 countries that have signed ERPAs with the World Bank,” he stated.
Commenting on the money received, Mr. Samuel A. Jinapor, Minister for Lands and Natural Resources, divulged that the many years of dialogue, consultations, and negotiations with local communities, traditional authorities, government agencies, private sector, Civil Society Organizations (CSOs), and Non-Governmental Organizations (NGOs) have paid off.
“This emission reductions’ payment will further promote confidence in Ghana’s REDD+ process for action to reduce deforestation and forest degradation while empowering local community livelihoods. The road to global 1.5 degrees cannot be achieved without healthy standing forests, and Ghana is committed to making it possible.”
Mr. Samuel A. Jinapor, Minister for Lands and Natural Resources
Ghana Cocoa Producers Participate In REDD+
Just as some of the most important cocoa and chocolate companies in the world, including World Cocoa Foundation members like Mondelēz International, Olam, Touton and others have participated, Ghana’s Cocoa Board is participating in the REDD+ process with the focus on reducing emissions for the benefit of the country as a whole.
The combined efforts of the participants, according to Ghana Cocoa Board, seeks not to only help bring change to the cocoa sector, but to also help Ghana meet its national emissions reductions commitments under the Paris Agreement.
“This level of collaboration is also reflected in the benefit sharing plan underpinning Ghana’s’ ERPA with the World Bank. Prepared through extensive consultations with local stakeholders and civil society organizations throughout the country, the plan ensures all participating stakeholders are fairly recognized and rewarded for their role in reducing emissions.”
Ghana Cocoa Board
Ghana is the world’s second-largest cocoa producer. Cocoa drives the economy, but it is also one of the main causes of deforestation and forest degradation in the southeast and western regions of the country.
Stakeholders are working to help some 140,000 Ghanaian farmers increase cocoa production using climate-smart agro-forestry approaches, rather than slash and burn land-clearing techniques that decimate forests. More sustainable cocoa farming helps avoid expansion of cocoa farms into forest lands and secures more predictable income streams for communities.
The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and Indigenous Peoples’ organizations focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest carbon stocks in developing countries.
The FCPF, which was launched in 2008 has worked with 47 developing countries across Africa, Asia, Latin America, Caribbean, and the 17 donors that have made contributions and commitments totaling $1.3 billion.
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